Maryland State Retirement & Pension System Purchases 15,048 Shares of CSX Corporation $CSX

Maryland State Retirement & Pension System increased its position in CSX Corporation (NASDAQ:CSX) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,982 shares of the transportation company’s stock after purchasing an additional 15,048 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CSX were worth $5,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management lifted its holdings in shares of CSX by 1.6% during the 3rd quarter. Ritholtz Wealth Management now owns 101,551 shares of the transportation company’s stock worth $4,723,000 after acquiring an additional 1,568 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of CSX by 5.7% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 16,834 shares of the transportation company’s stock valued at $783,000 after acquiring an additional 914 shares in the last quarter. First Command Advisory Services Inc. boosted its position in shares of CSX by 55.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 19,932 shares of the transportation company’s stock valued at $927,000 after acquiring an additional 7,144 shares in the last quarter. Silver Grove Financial Group Inc. boosted its position in shares of CSX by 16.2% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 2,812 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 392 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in CSX by 15.7% in the third quarter. Illinois Municipal Retirement Fund now owns 219,275 shares of the transportation company’s stock valued at $10,198,000 after acquiring an additional 29,703 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 1.0%

Shares of NASDAQ:CSX opened at $52.40 on Friday. The company’s fifty day moving average is $48.92 and its 200-day moving average is $46.18. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. CSX Corporation has a 52 week low of $33.63 and a 52 week high of $53.60. The company has a market capitalization of $96.59 billion, a PE ratio of 27.15, a P/E/G ratio of 2.27 and a beta of 1.12.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts predict that CSX Corporation will post 2.06 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s payout ratio is presently 29.02%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSX. Susquehanna increased their price target on shares of CSX from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, October 27th. Weiss Ratings raised CSX from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 29th. Argus set a $56.00 price objective on CSX in a research note on Friday, July 31st. Bank of America upped their price objective on CSX from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $54.00 target price (up from $53.00) on shares of CSX in a report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $52.20.

Insider Activity at CSX

In related news, Director John Zillmer sold 19,500 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the sale, the director directly owned 334,214 shares in the company, valued at $17,125,125.36. This represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

CSX Company Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.